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HARARE giants CAPS United have appealed to their stakeholders to rescue the club from sinking after the administrators yesterday revealed the club was making losses with each game they play. Makepekepe are currently reeling under a heavy financial burden which has triggered in-house problems as they are failing to pay their players, technical team and office staff.

The club’s administrator, Morton Dodzo, yesterday said they were in a vicious circle as they were accumulating debts every week to finance their fixtures.

Dodzo painted a grim picture at the former champions and indicated they were getting peanuts from the gates, which are their only source of income.

Makepekepe have struggled to attract good crowds to the stadium this season.

The Green Machine players recently were up in arms with their employers over unpaid salaries and bonuses while office workers have not received their dues for months.

Dodzo made an appeal to the club’s stakeholders, who include supporters, directors, shareholders and the corporate world, to come to the club’s rescue.

“We are appealing to all stakeholders, be it supporters, be it directors of the team, be it creditors, be it employees, to put heads together and work towards the revival of the team. We should all share one vision for the betterment of the team.

“Our situation at the moment is critical. We are in intensive care. We are struggling, just like every institution operating under this economic environment. Maybe the difference might be the magnitude of the problems.

“But we admit we are facing cash flow challenges. We are in a very difficult situation and all stakeholders should know. It’s a misnomer to assume that CAPS United has money when we are not making any.

“Our revenue streams have dried up. We have no sponsorship, we haven’t traded players, and there is nothing on tournament prizes so far.

“So, in the absence of all these revenue streams, we have to rely on the gate takings only but, unfortunately, we are failing to generate a significant income from this so that we meet our needs. The reason being that supporters are not coming for matches.

“But inasmuch as we are not generating money, costs will remain. So if you take a symmetrical analysis of costs against inflow, we are actually making losses,” said Dodzo.

According to figures availed to The Herald, CAPS United are attracting an average 1 800 paying fans to their home games.

On Sunday, 1 817 people paid to watch the home match against Chapungu when the club grossed $5 611.

But after paying off all the levies and other costs they were left with a net figure of $1 206.

“CAPS United is unable to generate revenue to meet its need or obligations. Assumptions or speculation that there is money and it’s being stolen are incorrect.

“So far we haven’t generated an amount adding up to $40 000 from the gates, 10 games yet we are in the fifth month of the season.

“Our payroll per month is plus $36 000, bonuses for one game are plus $6 000 and camping costs per game are around $4 000 and if we start talking of administration costs then the figure will obviously bal- loon.

“The amounts being generated from the gates are not even enough to meet the costs of a single game.

“It’s not enough to meet the players’ allowances, their lunch, mineral water and refreshments, it’s not enough to pay the bonuses and even to allow for camping.

“So we are incurring and accumulating losses with each game. No one at CAPS United is being paid adequately.

“Personally, I sympathise with our players because they are the primary reason why CAPS United is there. So we need to put our heads together,” said Dodzo.

Source : The Herald